Currency Converter FAQs

  1. Why can't I find the currency I'm looking for?
  2. Why can't I convert currencies?
  3. The flashing advertising banners are sometimes annoying. What is being done about this?
  4. Why is yesterday's exchange rate usually the most recently available?
  5. Can you tell me the best time to exchange my money or to buy or sell currencies?
  6. May I link to these currency tools from my home page?
  7. How often is data for the Currency Converter updated?
  8. How accurate is the Currency Converter?
  9. Why can't I get the exchange rates you show from a bank?
  10. How do I choose the rate type on the "Travel Exchange Rates?
  11. Is the data provided on the Currency Converter comparable to the exchange rates published in the Wall Street Journal?
  12. How can I advertise on the Currency Converter?
  13. Why do the number of prices used to compute exchange rates differ from day to day?
  14. I'd like to get exchange rate information across a number of currencies. May I download custom-designed tables from OANDA to meet this need?
  15. Can I get a daily email from OANDA with specific exchange rates?
  16. Is there a way I can get monthly or yearly averages for specific currencies from OANDA?
  17. How can I get exchange rates prior to 1990?
  18. What other languages are available for the currency converter?

See also

1. Why can't I find the currency I'm looking for?

For the new currency converter, you can type in the name of a country or a currency or a three-letter ISO code.

We try to keep the list of countries and currencies up to date for all currencies where there is reliable data available from financial institutions. If you can't find the currency you're looking for, please send us feedback.

2. Why can't I convert currencies?

If one of the currencies you select is not in effect for the date you request (for example, it's obsolete or not yet introduced), you will see a message that the exchange rate data is not available.

Make sure your system meets requirements:

  • Make sure that you have configured your system and your Web browser correctly. We have experienced several badly configured browsers. Your Internet service provider, your system administrator, or (most of the time) your Internet-savvy friends should be able to help you.
  • Make sure that you are using a browser that supports Javascript. We have tested with Firefox 3.0, Internet Explorer 6.0+, Safari 3, Google Chrome 3 and Opera 10.

3. The flashing advertising banners are sometimes annoying. What is being done about this?

To be able to offer a free service that is useful to our users worldwide, we have to work with sponsors. If you have feedback on a particular ad, please let us know.

An alternative to the standard Currency Converter is the Customized Currency Converter, and Customized Currency Cheatsheet, an enhanced version that is subscription-based.

4. Why is yesterday's exchange rate usually the most recently available?

The 164 Currency Converter is updated daily at 06:00 PM EST. Before that time, the exchange rates shown are from the previous day.

5. Can you tell me the best time to exchange my money or to buy or sell currencies?

No, we do not give personal consulting on the exact date and time to exchange your money or buy or sell currencies. To find out the best places to change your money, contact your local bank or travel agency.

If you are interested in transfering money overseas, you may want to try our transfer service, FXGlobalTransfer. If you are traveling, you may want to try our FXDelivery service for currency delivery to your home.

6. May I link to these currency tools from my home page?

Yes, please do. Find out how to link to OANDA.

7. How often is data for the Currency Converter updated?

The Currency Converter is updated daily at 06:00 PM EST (Eastern Standard Time) with data from the previous day.

8. How accurate is the Currency Converter?

The results you get by converting any amount of a currency to another is rounded to four decimal digits or four digits after the leading zeros, with a few exceptions. If you want to know the exact exchange rate we use at a given moment, take the average of the bid and the ask of the "average price" (shown in the conversion results). The exchange rate we use is based on interbank market rates (see the next FAQ).

9. Why can't I get the exchange rates you show from a bank?

The prices quoted by the Currency Converter or the Travel Exchange Rates (Cheat Sheet) are based on interbank market rates and generally reflect the exchange rates for transactions of US $1 million or more. These are the "official" rates quoted in the media, such as The Wall Street Journal. Retail spreads (the difference between the buy and sell prices) for smaller amounts are not reflected in these interbank prices since they vary among payment systems, countries and banks. These retail rates, which are used by credit cards or cash exchanges in banks or other exchange services, usually include 1 to 10 percent margins on the top of the interbank rates. For example, if the interbank rate for 1 Euro converted to US Dollar is $1.57, typically you need to present approximately $163 US Dollars in a bank to get 100 Euros.

If you go to a bank in your home country, you usually have to pay more of your home currency to get foreign currency than you will receive of your home currency, if you return the foreign currency. This results in the two exchange rates shown in the margin result.

Because these retail rates vary so much in every place, we cannot advise you where to go at any given moment to change currencies. You can usually find out such information from your local bank, travel guides, or people who have visited the place you are heading for.

10. How do I choose the rate type on the Travel Exchange Rates?

For the Travel Exchange Rates tool, be sure you have chosen the destination currency and your home currency correctly. You home currency is what you would present in a bank to get your destination currency.
  • If you need the "official" rates, choose the "interbank rate";
  • If you are going to mostly use your credit cards while you travel and your destination and home currencies are among the major currencies, you may choose the typical credit card rate which includes a 2% margin on the top of the interbank rate;
  • If you are going to mostly use cash while you travel and your destination and home currencies are among the major currencies, you may choose the typical cash rate which includes a 4 to 6% margin on the top of the interbank rate. This is usually close to the rate you get from a bank for major currencies.
  • Less frequently traded currencies are usually sold with higher margins. If you believe the exchange rates you get during your travel were/are not close to the typical rates we suggest above, click the button next to "choose my own margin" and enter your margin in the text box. You may use this option to provide your customers with the "Cheat Sheet" if you run a hotel or other travel services that offer currency exchanges.

11. Is the data provided by the Currency Converter comparable to the exchange rates published in the Wall Street Journal?

Yes, it is. The Currency Converter provides averages for the global foreign exchange market gathered from "high frequency" databases. The data is compiled from the leading market data vendors as well as contributing financial institutions. The data is filtered and stored in a proprietary data repository. We do not take market closing prices as the "average" price. Instead we take the average from all our collected data, reflecting the fact that the foreign exchange market never really "closes" but operates 24 hours a day on a global basis.

12. How can I advertise on the OANDA site?

Please submit an inquiry to our team.

13. Why do the number of prices used to compute exchange rates differ from day to day?

We collect data from live market data suppliers. Banks update these prices continuously on a global basis. However, market activity is lower on weekends and holidays, thus explaining the differing number of prices from day to day.

14. I'd like to get exchange rate information across a number of currencies. May I download custom-designed tables from OANDA to meet this need?

Yes. Visit any of these services to get the exchange rates in the format that meets your requirements:
  • FXDaily provides a one to many currency exchange table in HTML, ASCII or CSV in different languages
  • FXCrossRate provides currency exchange cross rate table

15. Can I get a daily email from OANDA with specific exchange rates?

Yes. FXMail sends out currency exchange rates to your email account on a daily, weekly or monthly basis in CSV, HTML or ASCII format.

16. Is there a way I can get monthly or yearly averages for specific currencies from OANDA?

Yes. FXAverage is an online tool that enables you to calculate weekly, monthly, quarterly, or yearly average exchange rates.

17. How can I get exchange rates prior to 1990?

You can visit the Olsen Data Web site to obtain further information on how to obtain exchange rates prior to 1990.

18. What other languages are available for the currency converter?

Aside from English, the currency converter is also available in the following languages:  Arabic, French, German, Italian, Japanese, Korean, Portugese, Russian, Spanish, Swedish, Simplified Chinese and Traditional Chinese.
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